Source: Pharmaceutical Technology
Source: Pharmaceutical Technology
The deal includes an upfront payment and potential near-term payments totalling $17.5m in exchange for azer-cel’s global rights.
A $7.5m upfront payment by TG Therapeutics to Precision will comprise both cash and share purchase of the latter’s common stock. Precision will receive a $2.5m equity investment during 2024. Achievement of near-term clinical milestones will trigger payment of a further $7.5m for Precision in cash and stock purchases by TG Therapeutics. Precision will earn $288m in subsequent milestone payments, contingent on clinical, regulatory and commercial goals. The agreement also entitles Precision to royalties on net product sales. These financial provisions and available credit are anticipated to extend the cash runway of Precision into the first half of 2026, covering Phase I clinical data readouts for its hepatitis B virus and primary mitochondrial myopathy programmes. “Key factors in our decision to partner with the TG team include their recent development, regulatory and commercial successes in the multiple sclerosis space, which we believe are strong indicators of the commitment and expertise they will bring to the development of azer-cel in autoimmune diseases. Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.
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